Wall Street Zen Downgrades XTI Aerospace (NASDAQ:XTIA) to Sell

XTI Aerospace (NASDAQ:XTIA) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of XTI Aerospace in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

XTI Aerospace Stock Performance

XTI Aerospace stock opened at $1.35 on Friday. XTI Aerospace has a 52 week low of $1.22 and a 52 week high of $3.19. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.34 and a current ratio of 0.55. The firm has a market capitalization of $51.95 million, a price-to-earnings ratio of -0.26 and a beta of 4.79. The company has a 50 day moving average price of $1.53 and a 200 day moving average price of $1.85.

Institutional Investors Weigh In On XTI Aerospace

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of XTI Aerospace by 47.2% in the second quarter. Geode Capital Management LLC now owns 44,424 shares of the technology company’s stock valued at $72,000 after purchasing an additional 14,240 shares during the period. Virtu Financial LLC bought a new stake in shares of XTI Aerospace during the 3rd quarter worth $42,000. Citizens Financial Group Inc. RI bought a new stake in XTI Aerospace during the fourth quarter valued at about $124,000. State Street Corp boosted its stake in XTI Aerospace by 18.9% during the 4th quarter. State Street Corp now owns 89,403 shares of the technology company’s stock valued at $111,000 after purchasing an additional 14,200 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of XTI Aerospace in the fourth quarter worth $137,000. Institutional investors own 11.70% of the company’s stock.

About XTI Aerospace

XTI Aerospace Inc (NASDAQ: XTIA) is an early‐stage aerospace company headquartered in Englewood, Colorado, focused on the design and development of vertical takeoff and landing (VTOL) aircraft for the business and specialty aviation markets. The company’s core mission is to deliver a next‐generation hybrid wing–body aircraft capable of both VTOL and short-takeoff and landing (STOL) operations, addressing the growing demand for point-to-point air transportation without the need for traditional airport infrastructure.

The company’s flagship product, the TriFan 600, is a six- to eight-seat business aircraft powered by a proprietary tri-fan propulsion system.